$650m in cat bonds listed on Bermuda Stock Exchange

Cape Lookout Re listed $450 million of three-year notes on the Bermuda Stock Exchange on March 25. 

The bonds, for cedent North Carolina Insurance Underwriting Association, were sponsored by Ocorian Securities. 

Separately, Gateway Re has listed $250 million worth of catastrophe bonds on the Bermuda Stock Exchange. 

The bonds are broken down into $150,000 worth of Class A one-hurricane season bonds and $100,000 worth of Class AA three-year bonds.

The cedent is reported to be SureChoice Underwriters Reciprocal Exchange and Elevate Reciprocal Exchange which are exchanges administered by SageSure Capital Holdings. 

The listings were sponsored by First Bermuda Securities and were listed on March 26. 

The BSX also announced that it had delisted Sanders Re's 2022-2 Class C notes after they were redeemed early. The notes were issued by US insurer Allstate to cover Florida windstorms through 2026. 

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